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Old 07-31-2007, 03:24 PM
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Question USPAP has 2 specific tests for acceptability.

USPAP has 2 specific tests for acceptability. What are they?

This was the only question for 7 hour USPAP Con Ed I could not come up.

Since someone stole my brain medicine, does anyone know the 2 specific tests for acceptability ??

Thanks,


Tom
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Old 07-31-2007, 03:28 PM
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Try page 13, but it appears there are 3.
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Old 07-31-2007, 03:34 PM
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If you mean tests for the acceptability of scope of work Mr Rex is correct, pg 13, lines 428 thru 432.
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Old 07-31-2007, 03:37 PM
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The expectations of parties who are regularly intended users for similar assignments; and what an appraiser’s peers’ actions would be in performing the same or a similar assignment.
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Old 07-31-2007, 03:54 PM
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I think I was wrong... it must be

An appraiser must not allow assignment conditions to limit the scope of work to such a degree that the assignment results are not credible in the context of the intended use.

An appraiser must not allow the intended use of an assignment or a client’s objectives to cause the assignment results to be biased.
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Old 08-01-2007, 04:39 PM
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The SCOPE OF WORK RULE establishes two benchmarks for measuring the acceptability of the scope of work, both of which need to be met. The scope of work is acceptable when it meets or exceeds both (1) the expectations of parties who are regularly intended users for similar assignments; and (2) what an appraiser’s peers’ actions would be in performing the same or a similar assignment. An acceptable scope of work must satisfy both benchmarks.
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Old 08-01-2007, 05:23 PM
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I think Uspap establishes a bunch of benchmarks.
- correctly complete the research and analysis necessary
- correctly employ recognized method or technique
- not commit a significant error of omission or commission
- not being careless or negligent
Also, to have an acceptable scope or work, wouldn't one first have to identify the problem correctly?

Last edited by Fred : 08-01-2007 at 05:40 PM.
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Old 08-01-2007, 05:26 PM
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I stopped at the first place I saw "Acceptabilty".
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Old 08-03-2007, 05:41 PM
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Mark was correct ......

The expectations of parties who are regularly intended users for similar assignments; and what an appraiser’s peers’ actions would be in performing the same or a similar assignment.
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